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20131101
20131130
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'm becky quick along with andrew ross sorkin and steve liesman, who is in for joe kernen today. o is enjoying a day off. our top story today, of course, it's retail. so we are lucky enough to have our industry expert dana telsey here this morning. >> thank you. thank you for having me. >> have you slept? >> i don't believe in sleeping, not when the stores are open. >> that's what we figured. we'll talk more to dana in just a moment. at least a dozen retail chains opened their stores yesterday. it did make for some big thanksgiving day sales. overall, the national retail federation expects sales to be up by 3.9% during the last two months of the year. that is higher than last year's 3.5% growth. but it's below the 6% rates that we saw just before the recession. and whether you hit the stores yesterday or not, plenty of people are out this morning. if you are planning on waking up early for your black friday sales, you're late. step et up. shoppers are expected to spend an average of $650 this weekend. that's 11 1% more than last year. we have the chief merchandising officer at toys
a listen. >> steve it's great setting things up. those guidelines are for the control room. >> joe is right. after having been a print recorder 30 years, i lean on the written word. >> it's getting it organized. >> i have no time for organized thoughts. >> that we know. >> let's welcome our guest hoist bill george. he's currently at harvard business school. bill, we're so glad you're here. so many things to talk about. let's start off you by what steve was discussing. what's happened with the fed? what do you think will happen? >> i'm a fan of bernanke. in my opinion he saved us in '08. we have no fiscal policy in this country. he's trying to off set the monetary policy. he's gone as far as he can go. we've got to pull out of this. i think they'll keep interest rates low. >> you say you're a fan. are you a fan of what's happening now? >> we have an imbalanced economy. we're hanging on for dear life trying to get the unemployment down. i think there's too much money in the economy. it's eventual got to come out. they're not going to do hit with unemployment rates. >> are they paying too much
's an incredible car. >> it's not just the shape of the car. they did things like steve jobs. you know, form follows function or whatever the old, you know, architectural strategy. the guy is like jobs to come out of nowhere. gm and ford and all the others they've been trying to come up with this for so long. i see what he's saying. if you've got a gas tank with 30 gallons worth of gas and you're in a bad accident, that's scary. but then there are these batteries, apparently -- >> and the distributor -- >> distributed across the whole bottom. does any little, you know, does any crash -- >> consumer reports comes out and says it's the safest car they've ever tested. >> this is interesting. we'll see what kind of conclusions these -- and you know, when you test cars, you see those, you know, crash dummies and stuff. you see how hard -- and it's scary to watch because even 35 miles an hour. >> are they really smashing up teslas, though? >> it's only the government, we can afford it. >> consumer reports. >> consumer reports. >> but when they test. >> yeah, well, they, i'm sure are. >> money to b
be able to manage money belonging to steve cohn, the founder, certain employees and his family members. >> hey, kate, couple questions this morning. one is this doesn't resolve any potential criminal liability for steve cohn, the man himself, is that true? >> well, let me give you a dual answer to that. i mean, i guess it doesn't, although i think if they had the material for a criminal individual case against cohen, they probably would have brought it at this point. now they continue to try current and former traders. in two weeks from now we'll see the trial of michael steinberg and i assume the fbi continues to try to turn witnesses against him. so i think you can't rule that out in the future, but i would probably not expect it at this point. >> the only reason i ask is because if you remember and you remember so well given -- now we're talking about a $1.8 billion settlement, 600 was already from a prior settlement, some people meant the whole thing was over. here we are they would argue we're sort of double dipping. it seems to me they're taking a second bite at the apple, why no
mentioned he's the author of the best-selling book steve jobs. and walter, we are dying to hear your thoughts on obama care. we've been talking about this a lot this morning. trying to figure out where we are in the situation. you're a big thinker. where do you think things stand at this point? >> well, i love the conversation between joe and governor markell. because in some ways both are right. this is an absolute disaster when it comes to showing can government do something big? we watch airlines merge and private industries and they're trying to get reservation systems right and takes three or four months of a bad flying summer. this one was difficult. but i do think and i know you'll push back on me that it is a problem the way things were before. two things, the fee for service which y'all talked about but also kids in their 20s. kids my daughter's age, they want to join start-ups, they want to be independent. employee, you know, health care is really something we have to get away from. people need to be able to go on to market and buy insurance. well, is this the best way to d
. the fed has paint all numbers on the roulette wheel red. >> rick, stick around. let's bring in steve liesman to this conversation, as well. steve, pretty strong number, at least, in terms of what you're seeing for the permits. the question becomes the starts. what are we going to see when we get those numbers. >> details, becky, this looks like driven by multifamily construction. we're reporting two months now, we're looking through going back to august as the baseline. you were about 299,000 in august, multifamily, now that's up to 414 in october. so that's a -- a consecutive jump in september and october. whereas single family homes, 627 is actually below that level. you've had a two-month surge in multifamily. looks like a lot happened out west and out south where permits are, at least in october, unchanged in the northeast and down in the midwest. so i'm not -- we like this number, we like it to be high. it's a number that doesn't do badly in terms of tracking gdp two quarters ahead of time. >> over a million now too. >> yeah. we haven't been there since march. but you certainly
report. delay, delay, delay. we're going to get to rick santelli and steve liesman for final predictions. gentlemen, let's start with you, rick. what's your number? >> 101,000. >> oh, you're going even lower than consensus. >> i don't know. >> consensus right now is about 120, though some of our "squawk" panelists are a little more all over the map. >> boy, you said a mouthful there. >> steve, where are you? >> i like 141,000. >> oh. why? >> just a touch higher than consensus. i don't think the federal stuff shows up in the payroll numbers, i think it shows up in the unemployment rate. and the private sector indicators i've seen have not been that bad. i don't know what the knock on effect of the federal government shutdown has been. but the ism numbers are pretty good, the jobless claims have been polluted by the california computer problem. but if that's the case and a 335 or 340 average over the course of the four weeks is not too bad. plus, my thinking here is that all of the risk is to the up side. the market has completely baked in a negative number. i'm most interested in the sept
rosengren joins steve liesman live on this broadcast. >> andrew, thank you. >>> calling it a lopsided and misleading portrait of the people at amazon, mac kenzy slams her husband's, jeff bezos book. >> and just reading some of what she said, you know, to make a book interesting, sometimes you need to embellish or things that may seem small at the time to people involved, that becomes -- i've seen that happen. >> i think they took some of the narrative tricks to make it happen. this is a book that jeff bezos does not cooperate with. i heard the author interviewed on npr. it sounds like an interesting book. >> it's possible that the whole story could be interesting to some extent, but they couldn't have these major -- not everything is a drama, right? i can it's nice that she's -- >> standing up for him. >> yes. >> sure. >> i didn't like it when rupert got divorced. >> all right. when we come back, twitter preparing to go public this week. the company laid out more than 30 pages of risk factors for the business and this public filing. we're going to talk about the risks and rewards righ
not think that's going to happen here. the target at sac capital was steve cohen. i think the outcome at sac capital was foreseeable if you look at all of the other cases that were part of the bigger sec capital probe. you're not going to have a situation with jpmorgan where you have a criminal indictment that turns the lobby of every jpmorgan office around the world into a state of the office health fund. you're tot going to shut down the bank. it's not going to happen. i think there is at least -- i don't want to say a handshake, but an understanding, we're not going to see a criminal case here. >> jacob, if you were called in by the independent director of the jpmorgan, so we're going to have a private meeting and we want to get your view on what the heck just happened here and how we should think about our own management and how we should think about them going forward, you would tell them what? >> i would tell them that this is a toxic, toxic, not a tough u.s. government, a toxic regulatory environment that's been created by the powers that -- by the powers that be in washington. i thin
on this floor are paying more attention to shipments lately. shipments down a couple of tenths as well. steve picked up for me. durable goods complex is a big disappointment today. on the jobless side, if the jobless claim floats your boat and you're a high believer correlations figure into more working in the true labor force, this number is okay for you. it came out in the wash. 2.72 unchanged on tens. looking for a meager positive for equity markets. steve, what do you think of the dynamic on the shipments? is this something to play closer attention to? >> you're trying to figure out what's going on with overall economic growth. orders tells yousz where it's going, shipments tells you where it's been. i don't do calculation until i get off set. you figure in the shipping and number tell us. shipments are down it will substract from overall growth. >> machinery, fabricated metals. this is not a one off. >> i don't know what the reason is for that unexpected up. >> sorry man. you already ready to head out for turkey. where are we? what do you make of numbers right now? >> couple of points. t
that has to do with benghazi for me? >> what's weird is when i talked to senate -- >> you're steve liesman, right? >> i'm steve liesman. they say the benghazi thing is more worrisome than the rand paul thing because the benghazi thing is more out there in the public domain and more likely to gain -- >> i don't think it was handled well. >> but the connection, even though the rand paul thing makes more sense to tie yellen to the fed audit thing, benghazi and the fed and yellen, i don't really see the connection. >> considering you said where do we draw the line, is $50 trillion too big? >> you mean on the fed's balance sheet? well, you asked what is the number? >> i did ask rhetorically what is the number. >> that's what i'm talking about. >> why talk to me? >> i don't know. >> i think the same of you. let's start off 7:00 in the morning with quite a few insults. >> you know what i mean, though. if we're going to talk about something, we thought we were priming the pump. we didn't know the economy ran on qe forever. >> we didn't. >> wipe don't we bring in our distinct guests. >> did you kno
like steve burke out there understand the value of a theme park business. no if you look at it from inside the industry, what happened was harry potter. i mean, universal fundmentally restructured the quality of their amusement park business by signing the licensing with harry porter, a phenomenal product. >> did they want at the beginning, do you think? the word is that they were going to get rid of, now they love it, but like disney when they bought abc and ended up with espn. a little bit of surprise on the way, good for them. that's what we think. industries healthy. look at disney, the destination business, you're seeing things work, one of the few places you are seeing good things happen. >> what we like to say is having fun should be fun. again, i will go back to the point, the world is overly complicated. i think that whether it be us or whether it be the comcast folks, universal folks, et cetera, providing that reward working as hard as people are working -- >> you can't share pictures of your family on facebook at an amusement park unless you go to the amusement park. >> t
by at the cme in chicago. steve liesman in studio. and i don't -- we've got to get to these numbers, rick. but i'll tell you, i figure you're thinking, these euros, misery loves company, we're going to race to the bottom with currency debasement. liesman comes over and says see how stupid they are, took them a long time to realize what the right thing to do was. i'd love to get you two guys going on that. >> bring it on. >> anyway, give us the numbers. >> all right. the survey says our first look at third quarter gdp, better than expected, 2.8%. and i'll tell you what, that is definitely more than i was looking for. let's go through the internals. consumption number, definitely on the weak side. we knew this, 1.5 versus our last look at 1.8. the price index triple our last look, actually. comes in at 1.9. also hotter, if you look at the personal consumption expenditure quarter over quarter, 1.4. so to summarize, the headline numbers definitely hot. the consumption is not and the prices are a little hotter than we expected. 336 on initial jobless claims, that's a drop of 9,000 from 345,000. that
's rumors out there it could be steve wynn. we don't really know. let's talk about the art market. particularly talk this morning about the art bubble. we saw you the most ever raised at auction last night. are we at a peak or beginning of this cycle? >> people have been predicting the burst of the bubble for years. the art market has proceeded una baited since 1995 when it sort of began to pick up steam. >> the crisis didn't phase hit. >> 2008 was a blip. the bubble is a many tiered market. you have this market of expensive items and a private market selling items nobody knows about. the rest of the market public and private is drafting off this limited information. it's not always clear. >> do you think these prices are real? is somebody actually paying this amount? there's so many side deals and guarantees and things that most collectors don't really moe. are these prices at the auction real? >> you have to assume they're real but also assume when you have a third of last night's sale guaranteed by the house or third party guarantors, most of that material has been gained and d
are going to get him on the phone. company veteran, dug mcmillon will succeed steve duke. you were just talking with andrew about why you would do this days before theid
Search Results 0 to 14 of about 15